Lord's Mark Industries Ltd Confirms Share Conversion Entitlement of 10.28 Lakh Shares at ₹158 Per Share

Lord's Mark Industries Limited (BSE: 501261) has resolved a legal matter with Bennett Coleman and Co. Ltd. ("BCCL"), one of India's leading media conglomerates, concerning the conversion of warrants held under a Share Cum Warrant Subscription Agreement ("SWA") dated August 1, 2023. As part of the resolution, LMIL has formally acknowledged BCCL's entitlement to 10,28,483 equity shares at a conversion price of ₹158 per share, in accordance with the terms of the SWA. The petition filed before the Hon'ble High Court of Delhi was subsequently withdrawn by BCCL, and the matter was disposed of on June 1, 2026.

The dispute arose from BCCL's petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim reliefs relating to the conversion of warrants held under the SWA. The matter arose in the context of LMIL's ongoing merger and capital restructuring process, which included the pre-packaged insolvency resolution of Kratos Energy and Infrastructure Limited ("KEIL") and its subsequent merger with LMIL, culminating in BSE listing approval in May 2026.

Ahead of the hearing, discussions were held between the parties regarding the issues raised in the petition. LMIL confirmed BCCL's entitlement under the SWA and its intention to make the necessary disclosures in connection with the matter. Following these developments, BCCL withdrew the petition, and the Court disposed of the matter accordingly.

Commenting on the development, the management of Lord's Mark Industries Limited said:

"We welcome the resolution of this matter through constructive dialogue and mutual understanding. The Company remains committed to maintaining the highest standards of governance, transparency and compliance while safeguarding stakeholder interests. We will continue to undertake all necessary actions in accordance with applicable laws and our contractual obligations."

Lord's Mark Industries Limited has formally acknowledged BCCL's entitlement to 10,28,483 equity shares at a conversion price of ₹158 per share in accordance with the terms of the SWA. The Company has reaffirmed its commitment to transparency, regulatory compliance, and timely disclosures to regulators, shareholders, and other stakeholders. Pursuant to the resolution reached between the parties, the petition filed before the Delhi High Court has been withdrawn, and the matter stands disposed of.

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